The onshore Biscathorpe joint venture has won its appeal for side-track drilling operation, testing and long-term oil production at the Biscathorpe-2 well site.
HYDROCARBONS
Licence PEDL253 holders Union Jack Oil plc (45%), operator Egdon Resources Ltd (35.8%) and Montrose Industries Ltd (19.2%) secured permission after Lincolnshire County Council last year rejected their application.
The partners will review the planing inspector’s decision notice and planning conditions while Egdon talks to the local community to ensure activities have “minimal impact on local amenity”, said Union Jack.
Executive chairman David Bramhill added that hydrocarbon shows, elevated gas readings and sample fluorescence were previously observed “over the entire interval from the top of the Dinantian to the total depth of the well, with 68 metres being interpreted as oil-bearing”.
“Independent consultants Applied Petroleum Technology also conducted analyses, confirming a hydrocarbon column of 33-34 API gravity oil, comparable with the oil produced at the nearby Keddington oilfield where Union Jack holds a 55% economic interest.
“Re-processing of 264 square kilometres of 3D seismic, indicate a material and potentially commercially viable hydrocarbon resource remaining to be appraised.
“The operator has assessed, in accordance with the PRMS* standard, gross mean prospective resources of approximately 6.5 million barrels of oil.
“Union Jack`s technical team believe that Biscathorpe remains one of the largest unappraised conventional onshore discoveries within the UK.”
*petroleum resources management system